Rs.70,000 Crore allocated for 7th Pay Commission in Budget 2016
As much as Rs.70,000 crore has been provisioned in the Union Budget 2016-17 for implementation of Seventh Pay commission for government employees, a top finance ministry official said.
While the Budget did not provide an explicit overall provision number, the government had said the 7th pay commission hike has been built in as interim allocation for different ministries and Budget numbers were credible.
Also read - HRA Loss Calculator
Implementation of the pay commission report in toto is to cost the government Rs 1.02 lakh crore
“We have provisioned for around 60-70 per cent of the total burden that was talked about,” the official said adding about Rs.70,000 crore has been provided in the Budget.
“We will wait to see the report of the Committee of Secretaries on the 7th Pay Commission and decide if we need further allocation,” he said.
Read more at-http://economictimes.indiatimes.com/